What is the Address Verification System (AVS)?

July 28th, 2010

The Address Verification System (AVS) is a system used to verify the identity of the person claiming to own the credit card. The system will check the billing address of the credit card provided by the user with the address on file at the credit card company. The other security features for the credit card include the CVV2 number. At present, only a few countries support AVS on Visa® and MasterCard, notably the USA, Canada and the United Kingdom. American Express does not support AVS in other countries than the USA.

The Address Verification System was originally used in the case of in person purchases where merchants could verify cards because they had embedded holograms or on-card photo ids. However, this does not help with online, phone, or mail transactions. But, AVS can provide secure payment gateways by having the merchant verify credit card data, such as billing address and zip code, against the Visa®/Mastercard billing information of the cardholder. This layer of security protection allows merchants to further investigate a transaction if the billing information provided by the Address Verification System does not match that the customer provides.

It benefits the merchant to use the Address Verification System because they are fully liable for all transactions they take that are performed without the person being in front of them. So if they accept a fraudulent transaction, they experience what is known as a chargeback. A chargeback refunds the customer from the merchant’s bank account. In addition, the merchant must pay a fine to the bank and credit card associations penalize them.

By using the Address Verification System, a merchant can protect both the customer and yourself from counterfeit charges. To learn more about the AVS,  click here.

Merchant Guide , , ,

Credit Card Processing – How it works

July 19th, 2010

Merchant Account Basics
This article should give you a good working understanding of how secure credit card processing works.
If you are not quite ready to boost up your website with e-commerce functionality, don’t worry, the following information is valuable in evaluating your needs. If you are considering getting secure credit card processing on your website for [...]

Entrepreneurs, Merchant Guide, Start Ups , , ,

Eliminate abandon rate during checkout – ecommerce

June 22nd, 2010

Every visitor runs through your checkout process with ease and getting your goods to consumers is a breeze… The dream of every ecommerce shop owner. Abandon rates in the checkout process are costing merchants thousands of dollars. Often times checkout processes are more complicated than they have to be, with little to no help [...]

Entrepreneurs, Merchant Guide, Start Ups , , , , ,

LAST CHANCE: Win 1 Year Free Credit Card Processing

May 31st, 2010

Remember, today is the last chance to enter our sweepstake Win 1 Year Free Credit Card Processing!
Visit www.socialbusinessbank.com/win and fill out the form.
Good luck!

Merchant Guide , , ,

31 Ways to prevent Chargebacks and minimize Fraud – Part 2

May 24th, 2010

Introduction
Credit card fraud is something that can never be completely eliminated, but rather something that must be managed. Merchants must develop a delicate balance between using safeguards to prevent fraud and not creating too many hoops for customers to jump through. In Part #1, we talked about fraud prevention basics [...]

Entrepreneurs, Merchant Guide , , , , , , ,

Ways to connect with Social Business Bank

May 17th, 2010

We have worked hard the last weeks and added many channels for you to connect with us. Now we want to show you all of these channels:
Our newest channel is our sweepstake, Win 1 Year Free Credit Card Processing.
Contact Channels

Phone
You have general Questions about Social Business Bank, a product or a [...]

Merchant Guide , , , , , , ,

Reminder: Win 1 Year Free Credit Card Processing

May 16th, 2010

You need a Merchant Account for your Business? You want to start a new Business without High Credit Card Processing Costs? You already have an Account but your not really satisfied with it? Enter the official Sweepstakes of Social Business Bank here
http://www.socialbusinessbank.com/win
Need more info?
Here you can read our first post about this sweepstakes.
About Social [...]

Merchant Guide , , , ,

31 Ways to prevent Chargebacks and minimize Fraud – Part #1

May 10th, 2010

Introduction:
This article suggests preventative methods and post-order procedures that merchants can perform to minimize credit card fraud. When a brick and mortar merchant accepts a credit card, and the charge is authorized, and assuming the merchant conforms to regulation, the merchant will get paid, even if a stolen card is [...]

Entrepreneurs, Merchant Guide , , , , , , ,

Social Business Bank supports Kiva

May 3rd, 2010

Kiva – Loans that change lifes

Kiva is one of the biggest non-profit organizations that helps people around the world to grow their businesses.
Some facts about Kiva
Kiva’s mission is to connect people, through lending, for the sake of alleviating poverty.
Kiva empowers individuals to lend to entrepreneurs across the globe. By combining [...]

Entrepreneurs, PRESS , , , , , , , , , ,

1 Year Free Credit Card Processing

April 25th, 2010

Social Business Bank has started  a new campaign called Win 1 Year Free Credit Card Processing. There is no requirement to enter the drawing; to participate visit
www.socialbusinessbank.com/win
“With this campaign every merchant in the United States has the chance to reduce his processing costs immensly”, says Samir Said, CEO of Social Business Bank.He adds
“There´s nothing more [...]

Entrepreneurs, Merchant Guide, PRESS , , , , ,